Recognise Bank completes £1.79m bridging loan for Lincolnshire developer

Tess Egginton
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Recognise Bank completes £1.79m bridging loan for Lincolnshire developer
Recognise Bank has completed a gross £1.795 million bridging loan across multiple industrial sites and land in Lincolnshire for an established development and construction business. Completed in partnership with Archway Capital Partners, the facility will allow the developer to maximise sales values across the commercial units on the sites. The borrower, part of a long standing and family owned group, recently completed two industrial sites across Lincolnshire as well as two landbank sites with planning permission in place. The bespoke bridging facility structured by lending managers, Ian Fields & Heather Mitchell, provided the client with a short-term solution to allow time for asset sales and to support their strategic development pipeline in the future. Sam Monk, director at Archway Capital Partners, said: “It has been a great pleasure to work with Ian, Heather and Stephen to complete this deal and support our client. The Recognise Bank team crafted a bespoke solution, provided timely responses, and maintained great communication throughout. We look forward to working with the team again in the future.” Ian Fields, senior lending manager at Recognise Bank, said: “We are delighted to have worked with Sam and the Archway Capital team to facilitate the next phase of growth for another successful UK SME. Providing bespoke financial solutions is at the very core of what we do and this deal is a great example of what can be achieved when lender, broker and borrower work together.”

Pension reforms risk higher prices, fewer jobs and slower growth, warns FSB

Tess Egginton
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Pension reforms risk higher prices, fewer jobs and slower growth, warns FSB
Prospective pension reforms could see small firms raise prices, cut jobs or slash profits, the Federation of Small Businesses (FSB) has warned. New research looks at how the current rules relating to auto-enrolment are already piling cost and complexity onto small employers. It also exposes how possible changes expected in the second phase of the Government’s Pensions Review – due later this year – could heap much further pressure on small firms already dealing with soaring wage bills and mounting National Insurance contributions (NICs). Most employers already say that decoding pension rules is a headache (53%), and a quarter (24%) are paying over £500 a year for advice – even before new changes are introduced. Small employers want to do right by their staff – but 79 per cent are concerned about the rising cost of employment, and reforms must reflect that pressure. FSB’s report, Backing the Future, lays bare the full impact of potential pension reforms being promoted by the Government. If employer pension contributions were to double to six per cent, 92 per cent of small employers would have to change their business negatively to cope, raising prices (52%), recruiting fewer workers (38%), cutting profits or absorbing costs (34%), and reducing the number of employees (14%). One of the proposals could see pension contributions applied from the very first pound earned, instead of the current £6,240. This would see 82 per cent of small employers affected negatively, raising prices (36%), cutting profits or limiting earnings (32%), recruiting fewer workers (28%), reducing pensions to a minimum of three per cent (19%), and cancelling/scaling down plans for investing in the business (19%). FSB is now calling for: 
  • Phase two of the Pensions Review to explicitly examine how workplace pension changes impact small employers and learn from how auto-enrolment has been rolled out until now. The review must look closely at the financial and admin burden on small businesses, including the cost of advice, running payroll, and getting to grips with the rules before bringing in any new proposals.
  • Ministers to commission a full cross-cutting economic assessment before any changes to pension rules are made, which includes the impact of recent rises in National Insurance and the National Living Wage, to ensure small firms are not hit with unaffordable costs or forced into tough choices like raising prices or cutting jobs. Last November, the Labour Government said it would only make changes to auto-enrolment if the impact on businesses was fully considered.
  • No changes be made to the earnings threshold, no increase to employer contributions and no lowering of the age limit before the economic assessment is complete.
  • The Government to convene regulators, including The Pensions Regulator and the Financial Conduct Authority, and industry stakeholders, to simplify pension rules and provide clearer guidance for small employers, reducing complexity and unnecessary admin. This would be a pro-growth, pro-employment move.
  • When considering pensions adequacy, the Government should look beyond just increasing contributions – considering scheme performance, investment returns and the real-world impact on small employers and employees. Poor fund performance leading to lower pensions later in life should not be masked by simplistic debates on contribution levels.
Tina McKenzie, policy chair of the Federation of Small Businesses, said: “Small business owners want to do the right thing. Entrepreneurs have taken on auto-enrolment, absorbed the costs, navigated the jargon, and kept paying into their staff’s pensions even when their own margins have fallen. But goodwill has limits. “The more complex and expensive the system becomes, the more we risk pushing employers from willing participants into reluctant bystanders. If the Government wants pensions policy to succeed, it must prioritise clarity over complexity and provide the right support. “This is not about resistance to pension reform, it’s about the cumulative burden of regulation and the rising cost of employment. Small firms are already feeling the pinch – NICs and wage increases are really taking their toll – and any new reforms could push many to breaking point. This is no time to add new burdens. Ministers should pause, take stock, and think carefully before stacking more costs on firms already under strain. “Now, as phase two of the Pensions Review gets underway, the Government must ensure the real pressures facing small businesses are front and centre – no further changes should go ahead without proper protections in place.”

Government steps in to support at-risk jobs following refinery insolvency

April Lara
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Government steps in to support at-risk jobs following refinery insolvency

The UK government is stepping in to support the continued operation of the Prax Lindsey Oil Refinery in Immingham, North East Lincolnshire, after its owner went into administration, putting 420 jobs at risk. Prax Group, which acquired the refinery from Total in 2021, filed for insolvency last Sunday, prompting concerns from union representatives that as many as 1,000 jobs, including those of contractors and supply chain workers, could be affected.

The government has allocated funding to the official receiver to ensure the refinery’s safe operation. The Department for Energy Security has confirmed the refinery suffered losses of approximately £75 million from the 2021 acquisition to February 2024. Despite reassurances from Prax that no immediate closure was imminent, the company shifted its position last week, stating that it could no longer continue as a going concern.

Energy Minister Michael Shanks criticised Prax’s lack of transparency about its financial gap and its failure to cooperate in finding a solution. The government is now looking for potential buyers for the refinery and other uses for the site if a sale cannot be secured. The government has pledged to maintain energy supplies and protect the local community while supporting affected workers.

Trade unions, including Unite, are calling for immediate action to protect jobs and ensure the refinery’s continued operation. Concerns have been raised about the long-term future of the site, which is strategically important for both fuel production and local employment.

York and North Yorkshire launch survey to boost creative economy

April Lara
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York and North Yorkshire launch survey to boost creative economy

A new survey aims to provide valuable data on the creative economy in York and North Yorkshire. Conducted by the York and North Yorkshire Combined Authority in partnership with the University of York, the Creative Economy Census targets over 1,500 creative businesses, as well as freelance and self-employed professionals in fields like advertising, design, film, music, publishing, and IT.

The survey will collect insights on the role of creative professionals, funding needs, barriers to growth, and required support services. The results will shape a regional Creative Industries Strategy, focused on fostering growth and making York and North Yorkshire a more attractive destination for creative talent.

This initiative is part of the wider One Creative North project, which aims to boost the region’s creative sector, identified as a high-growth area by the Combined Authority. The findings will inform future funding and support decisions, ensuring that creative professionals in the region have the resources they need to thrive. The survey takes an average of 20 minutes to complete, with both mandatory and optional sections.

Trial to improve rail travel for blind passengers in West Yorkshire

April Lara
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Trial to improve rail travel for blind passengers in West Yorkshire

A new trial is set to enhance the travel experience for blind passengers in West Yorkshire. Publicly-owned train operators, in collaboration with West Yorkshire Combined Authority and Network Rail, are testing a new approach to make it easier for individuals with a blind person’s travel pass to use automated ticket gates at regional stations.

Currently, blind passengers holding an English National Concessionary Travel Scheme (ENCTS) pass can travel for free on LNER, Northern, and TransPennine Express services, but they have faced challenges with automated ticket gates. Instead of passing through barriers independently, they have had to seek assistance from station staff.

This trial aims to address that issue. Ten participants will receive a temporary West Yorkshire travel pass (MCard) to access automated ticket gates without requiring staff support. The initiative, which is based on feedback from blind passengers, runs for three months starting from 1 July, at key stations including Bradford Interchange, Huddersfield, Leeds, and Wakefield Westgate.

The trial is designed to provide blind passengers with greater independence while maintaining support from station staff for those who need it. The hope is that this trial will lead to permanent changes, allowing blind passengers more control over their travel experience.

Reuseabox expands operations and workforce to meet growing demand for sustainable packaging

April Lara
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Reuseabox expands operations and workforce to meet growing demand for sustainable packaging

Following its recent relocation to a 78,000 sq. ft. headquarters in North Hykeham, Lincoln, Reuseabox has made key strategic hires, expanding its workforce to 20 employees. This move comes as part of the company’s ongoing growth to address the increasing demand for sustainable packaging solutions.

The new hires include Joanne Hunt, appointed Factory Manager. With over 36 years of experience in operations and logistics, she will oversee production processes and help optimise warehouse strategies as the company scales its operations. Additionally, Rebecca Wright has been brought in as National Account Manager, bringing ten years of experience in customer service and account management. Her role will focus on cultivating strong relationships with both new and existing customers, facilitating the transition to reusable packaging solutions.

Blair Simpson joins the sales team as a Sales Apprentice, beginning his apprenticeship this September at Lincoln College. With prior experience in B2C sales and telesales, Blair is eager to advance his skills within B2B sales at a purpose-driven company like Reuseabox.

These hires come after the company secured its first permanent base in Lincoln, marking a key milestone in its 10th anniversary year. With a growing capacity to meet demand, Reuseabox is committed to providing businesses with cost-effective, sustainable packaging solutions while contributing to local job creation and sustainable growth.

Waste site to close over environmental hazards

April Lara
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Waste site to close over environmental hazards

A planned extension for a waste recycling facility in South Elmsall has been blocked following complaints from over 400 local residents about a “putrid stench.” Wakefield Council rejected the proposal to keep the Hacking Lane site operational for an additional 10 years.

The Environment Agency (EA) is pursuing enforcement action against the operator, Minore (also known as Mineral Processing Ltd), after a planning inspector found hazardous materials on-site that posed health risks. The EA’s decision follows a public inquiry where the operator’s appeal was dismissed. The site’s pollution has been linked to foul odours, dust, and litter, with significant concerns over local watercourses, including Frickley Beck.

Minore has been instructed to remove approximately 180,000 tonnes of material and halt further waste dumping. A notice issued by the EA will take effect on 4 July, revoking the operator’s permit. While the company plans to repurpose the site into a country park, including a wildflower meadow and wetland, its current activities are under close scrutiny. The local community is hopeful for lasting resolution but remains cautious.

Major step forward for Rotherham’s Gateway Station plans

Tess Egginton
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Major step forward for Rotherham’s Gateway Station plans

Plans for the multimillion-pound Rotherham Gateway Station have taken a step forward as South Yorkshire’s mayor and local council leaders backed funding to progress the major regeneration project.

When Rotherham Council meets on 7 July, Cabinet is set to endorse a comprehensive Masterplan and approve the strategic acquisition of nearby land and property. Last week, the South Yorkshire Mayoral Combined Authority (SYMCA) Board signed off £11.35m to design the new mainline station and Tram Train stop, and to ensure the project can progress at pace. The business case for the Station and wider masterplan area highlights the potential to create 1,200 new jobs, underlining the significant economic impact the development is expected to bring to the region. Design work for the project will be included in a business case to release further government funding, with an ambition to open the station and Tram Train stop by late 2030. The proposed station, earmarked for Forge Way, Parkgate, would act as a regional transport hub linking local, regional, and national rail services – positioning Rotherham as a strategic economic corridor between Sheffield and Leeds. It would also provide more rail services and faster journey times to the centres of Sheffield, Doncaster and Leeds, as well as adding direct and quicker connections to the Midlands, North West and North East. To ensure the station delivers lasting benefits to local people and businesses, Rotherham Council commissioned a comprehensive Masterplan. The plan outlines a phased 20-year programme of transformation, including more than 355,000 square foot of advanced manufacturing and commercial space, around 250 new homes, and up to 132,000 square foot of green spaces and public realm. Rotherham Council has already secured £10 million to progress vital land acquisition and planning for the station area. The Council will also commit £2 million through its Strategic Acquisitions Fund to secure key properties necessary to deliver the wider Masterplan, with Cabinet set to decide if negotiations can commence. Cllr Chris Read, leader of Rotherham Council, said: “Back in 2022 we set out proposals to return mainline intercity trains to Rotherham for the first time since the mid-1980s. It’s great now to be able to progress those plans further, confirming additional funding to move to the next stage of development and for site acquisitions. “We’re also setting out proposals for opportunities for more jobs and homes in the area around the proposed station, including connectivity into the town centre and access to the tram-train network. “This is a once in a generation opportunity for our economy and our community, which would put Rotherham residents with half an hour’s travel of the centre of Leeds and an hour from Birmingham, expanding the work and leisure opportunities for Rotherham people as well as access to our borough. We’re determined to forge ahead with securing the infrastructure our borough needs to create new opportunities for years to come.” South Yorkshire’s mayor, Oliver Coppard, said: “I’ve repeatedly said that significant investment is needed in our rail network – because if we want people to stay near and go far, we need better public transport. “The £11.35 million investment into Rotherham Gateway Station is a vital step in delivering that future. It’s about more than just a new station – it’s about creating a gateway to opportunity, growth, and innovation. “The new station will sit at the heart of a transformational regeneration project, supporting high-tech industries, new homes, and green public spaces. It will improve journey times and connectivity not just within South Yorkshire, but to key centres across the North, Midlands, and beyond. “We do need more government support to complete our vision. That’s why Rotherham Gateway was included in Lord Blunkett’s Yorkshire’s Plan for Rail because it will help connect our people to the opportunities they deserve if we get it right – better jobs, better education, and a better quality of life. It’s one of the ways we’re building a world-class transport network in South Yorkshire that works for everyone.”

Expansion of Low Carbon Project sets up more South Yorkshire businesses for energy efficiency boost

Tess Egginton
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Expansion of Low Carbon Project sets up more South Yorkshire businesses for energy efficiency boost

A project that has supported South Yorkshire businesses to cut emissions, reduce costs, and boost efficiency has been expanded thanks to an additional £1.6m investment.

The Low Carbon Project provides dedicated support and a source of funding to help local businesses reduce their energy consumption and carbon emissions. Businesses benefit from fully funded support, including on-site energy surveys and access to capital grants for improvements such as low-energy lighting, insulation, and efficient heating systems. In the first phase, the project supported 223 businesses with £3.2 million in funding. The second phase will run until March 2026 and aims to support a further 144 small and medium-sized enterprises (SMEs) across Sheffield, Barnsley, Doncaster, and Rotherham. Sheffield City Council is leading the initiative, with the support of South Yorkshire’s other local authorities who are helping to deliver this support across the entire region. The project is part-funded through the UK Shared Prosperity Fund via the South Yorkshire Mayoral Combined Authority. Councillor Mohammed Mahroof, chair of the economic development, skills and culture committee at Sheffield City Council, said: “We know many business owners want to reduce energy costs and do their bit for the planet, but it can be difficult to plan how to do this effectively, and to find the money to pay for carbon-saving measures. “That is where this brilliant scheme can help. Specialist advisors will help businesses identify where they can make changes that save budgets and tackle the climate crisis. Low carbon grants give businesses the financial support they need to make changes that will reduce energy costs and carbon emissions.” The Council’s Business Sheffield team will continue to provide one-to-one support to local SMEs, guiding them from initial assessment through to grant application and implementation.

Yorkshire business confidence dips in June

Tess Egginton
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Yorkshire business confidence dips in June
Business confidence in Yorkshire fell three points during June to 49%, according to the latest Business Barometer from Lloyds. While companies in Yorkshire reported higher confidence in their own business prospects month-on-month, up two points at 61%, their optimism in the economy fell nine points to 37%. Taken together, this gives a headline confidence reading of 49% (vs. 52% in May). Looking ahead to the next six months, Yorkshire businesses identified their top target areas for growth as investing in their team, for example through training (47%), evolving their offering, for example by introducing new products and services (42%), and entering new markets (34%). The Business Barometer, which surveys 1,200 businesses monthly and which has been running since 2002, provides early signals about UK economic trends both regionally and nationwide. National picture Overall, UK business confidence increased one point in June to 51%. Firms’ optimism in their own trading prospects strengthened one point to 57%, while their confidence in the wider economy also rose one point to 45%. Wales was the most confident UK nation or region in June (67%), followed by London (64%). Sector insights Business confidence in the manufacturing and retail sectors saw significant gains this month, with 12-point rises in both sectors to 52%. For manufacturing, this demonstrates an 11-month high. Construction and services however saw decreases in confidence, with falls by five points and four points respectively. Martyn Kendrick, regional director for Yorkshire at Lloyds, said: “While overall confidence in the region has dipped slightly, it’s encouraging to see that Yorkshire businesses are increasingly optimistic when it comes to their own trading prospects. “Firms’ focus on steps such as investing in people, innovating in products and services, and exploring new markets reflects the strength of the region’s ambition, and we’ll be ready to support Yorkshire’s businesses as they look to translate this into further growth.”
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